Susquehanna Keeps Their Hold Rating on National-Oilwell

By Austin Angelo

Susquehanna analyst Charles Minervino reiterated a Hold rating on National-Oilwell (NYSE: NOV) today and set a price target of $35. The company’s shares closed yesterday at $38.84.

According to TipRanks.com, Minervino is a 1-star analyst with an average return of -2.8% and a 54.0% success rate. Minervino covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Diamond Offshore Drilling, and Oil States International.

Currently, the analyst consensus on National-Oilwell is Moderate Buy and the average price target is $35.29, representing a -9.1% downside.

In a report issued on January 4, Jefferies also reiterated a Hold rating on the stock with a $35 price target.

Based on National-Oilwell’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.83 billion and GAAP net loss of $26 million. In comparison, last year the company earned revenue of $1.69 billion and had a GAAP net loss of $714 million.

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National Oilwell Varco, Inc. provides equipment and components that are used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. The company operates through the following segments: Rig Systems, Rig Aftermarket, Wellbore Technologies, and Completion and Production Solutions. The Rig Systems segment designs, manufactures, and sells land rigs, offshore drilling equipment packages, including installation and commissioning services, and drilling rig components that mechanize and automate the drilling process and rig functionality. The Rig Aftermarket segment provides spare parts, repair, and rentals as well as technical support, field service, and first well support, field engineering, and customer training. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations, and offers services that optimize their performance. The Completion and Production Solutions segment integrates technologies for well completions and oil and gas production. The company was founded in 1841 and is headquartered in Houston, TX.